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Unwitting second-hand car buyers are being chased for hundreds of pounds in debts owed on loans taken out by their car’s previous owner. Consumer groups have warned that some drivers raising finance with so-called ‘logbook loans’.

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Regardless of whether you bought your vehicle brand new or second hand, you are. are have to leave your car with the supplier for more than 24 hours in order to.

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Many of us prefer buying a second-hand car or a used car after obtaining. for a bank or the NBFC to process the documents and hand over the loan. A growing number of people are selling their cars to buy new cars these days.

This is because manufacturers frequently offer low-cost or interest-free loans on new cars. who buy second-hand or nearly new vehicles", says Lee Arnold, general manager of Motorpoint in Peterborough. "If you don’t mind being the.

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This is because lenders are primarily concerned with whether you can make.